Nifty Metal index ends nearly 1% higher. Top gainers: COMPANY LATEST PREV CLOSE GAIN() GAIN(%) S A I L 76.70 74.00 2.70 3.65 JINDAL STEEL 251.80 243.75 8.05 3.30 WELSPUN CORP 153.00 148.55 4.45 3.00 MOIL 215.00 209.65 5.35 2.55 HINDALCO INDS. 238.50 232.60 5.90 2.54 Sectoral Trend BSE Sensex: top gainers and losers of the day Market at close The S&P BSE Sensex ended at 34,193, up 92 points while the broader Nifty50 index settled at 10,481, up 22 points. IDBI Bank: High NPAs, new bad loan rules seen offsetting inflows IDBI Bank has joined the bandwagon of public sector banks (PSBs) rushing to sell their non-core assets to strengthen their balance sheet. Recently, the lender sold a commercial building for Rs 9 billion, taking the total non-core asset sales to over Rs 41 billion in FY18. Also, the government provided Rs 106.1 billion recapitalisation amount, the highest among PSBs, to this cash-starved bank. But these efforts seem insufficient given the bank’s high net non-performing assets (NPAs) worth Rs 293.5 billion as of December 2017. READ MORE Oil heads for biggest weekly gain since July Oil prices edged higher on Friday, heading for their largest weekly gain since July after U.S. President Trump's comments about possible military action in Syria and reports of dwindling global oil stocks. Brent crude rose by 44 cents to $72.46 a barrel at 0821 GMT, up about 8 percent on the week. READ MORE
Meanwhile, Global stocks recovered to three-week highs on Friday as anticipated strong earnings season took centre stage after US President Donald Trump backtracked on his suggestion of an imminent missile attack on Syria.
Trump said in a tweet on Thursday that a possible attack on Syria could occur "very soon or not so soon at all," easing fears of confrontation with Russia.
MSCI's broadest index of Asia-Pacific shares outside Japan ticked up 0.1 per cent while Japan's Nikkei gained 0.8 per cent.
(with inputs from Reuters)